A colleague of mine, Jon, posed an interesting question on why it is that bad news today for the US economy (worst existing home sales number since ’99) could be good for the US dollar. Recall now the long-awaited death of the American consumer. Consumer spending has accounted for two-thirds or more of our economic [...]
Carry Trade Pullback We finally have a sharp pullback in the carry trade pairs after their near vertical bounce and V bottom pattern off the mid-August spike down low. Many eyes are on GBP/JPY, as it’s the only one even close to threatening the mid-August low. Normally a retest is typical in the few weeks following [...]
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